Tuesday, March 05, 2013

Join CRMTL to repeal the California MTA

Following up on my earlier call to action to repeal the California Money Transmission Act (MTA), I have helped form a group called the Coalition for the Reform of Money Transfer Law (CRMTL, pronounced Core-Metal). We have written a letter that we are submitting as formal testimony for the hearings on March 11. We would welcome additional signatories to this letter. If you want to add your voice to ours please send an email to Mark Farouk: Mark.Farouk@asm.ca.gov. Here is some suggested language:

Re: Assembly Bill 786

To Whom It May Concern:

[Company/Individual Name] submits the following comments for consideration at the Committee's March 11, 2013 hearing regarding the the California Money Transmission Act of 2010.

We are aware that the Coalition for the Reform of Money Transmission Laws submitted comments supporting the Committee’s efforts to reconsider the Act. [We/I] support the Coalition's comments and encourage the Assembly to strongly consider the Coalition’s suggested modifications to the law. Once these needed modifications have been made to the Committee's draft legislation, we urge the Assembly to act quickly to provide the relief that is necessary to ensuring that consumers derive the full benefits of a competitive payments marketplace.

[In addition, [ADD ANY ADDITIONAL COMMENTS THAT YOU WISH TO MAKE ON BEHALF OF YOUR COMPANY, IF DESIRED. IF YOU DO NOT WISH TO MAKE ADDITIONAL COMMENTS, PLEASE DELETE THIS SECTION.]]

Thank you for the opportunity to provide these comments and we strongly encourage the Committee to proceed to adopt the Coalition's proposed alternatives as soon as possible.

Respectfully submitted,

[Name, Title and Company Name]

Thank you for your support. Please note that input for the hearings is due by COB tomorrow, March 6. Sorry for the late notice, but we only today finalized the text of the letter.